🇯🇵📋 Filing Requirements for Report of Foreign Assets and Report of Assets and Liabilities:

Guide for Foreign Nationals in Japan

Foreign nationals residing in Japan may also be required to file a Report of Foreign Assets and a Report of Assets and Liabilities if certain conditions are met.

1️⃣ Who Must File a Report of Foreign Assets

A resident (excluding non-permanent residents) must file a Report of Foreign Assets if the total value of foreign assets held as of December 31 exceeds ¥50 million.

📅 Filing deadline: June 30 of the following year

🔍 What is a "non-permanent resident"?

A "non-permanent resident" means an individual without Japanese nationality who has had a domicile or residence in Japan for 5 years or less in total within the past 10 years.
Therefore, even foreign nationals living in Japan may become subject to this filing requirement once their total residence period in Japan exceeds 5 years within the last 10 years.

⚠️ Important Note
This filing obligation applies regardless of whether the individual is required to file an income tax return. Even individuals with no income must submit the report if their foreign assets exceed ¥50 million as of December 31.

💴 Asset values must be determined and stated in Japanese yen.

2️⃣ Who Must File a Report of Assets and Liabilities
A Report of Assets and Liabilities must be filed if either of the following conditions is met:

✅ Option 1:
Income tax return required (or eligible to file)
Total income exceeds ¥20 million, AND
As of December 31, either:
Total assets ≥ ¥300 million, OR
Assets subject to exit tax ≥ ¥100 million

✅ Option 2:
Total assets as of December 31 ≥ ¥1 billion (no income threshold)

📅 Filing deadline: June 30 of the following year

💴 Asset values must also be determined and stated in Japanese yen.

3️⃣ "Permanent Resident" for Tax Purposes ≠ Immigration Permanent Residency

🚨 Critical distinction:
"Permanent resident" for income tax purposes is completely different from "Permanent Resident" as an immigration status (permanent residence visa).

📚 For tax purposes:
Individuals with Japanese nationality, or foreign nationals who have resided in Japan for more than 5 years in total within the past 10 years, are not treated as non-permanent residents—they are taxed as general residents.

This is a tax classification and does not depend on whether the person holds permanent resident status under immigration law.

💡 Key Takeaway for Foreign Nationals
Even without immigration permanent residency, you may cease to qualify as a non-permanent resident for tax purposes after residing in Japan for a certain period.

Once your foreign assets exceed ¥50 million as of December 31, filing may become mandatory—regardless of your income level or immigration status.